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DGL Crosses Critical Technical Indicator

Written by: ETFChannel.com06/20/13 - 11:08 AM EDT

Tickers in this article:
DGL

In trading on Thursday, shares of the DB Gold Fund ETF entered into oversold territory, changing hands as low as $43.75 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In the case of DB Gold Fund, the RSI reading has hit 27.1 — by comparison, the RSI reading for the S&P 500 is currently 44.2.

Looking at a chart of one year performance (below), DGL's low point in its 52 week range is $43.75 per share, with $61.82 as the 52 week high point — that compares with a last trade of $43.85. DB Gold Fund shares are currently trading down about 4.2% on the day.